Samsungs Business Strategy Report Essay Example | Topics and Well Written Essays - 2750 words

Samsungs Business Strategy Report - Essay Example This is as occasioned by the ever-changing environments in which businesses operate. As each business entity is devising innovative ways of increasing their turnover and market base, the overall competitiveness of the industry is increased, thereby causing the rest of the entities in each specific industry to up the game in order to be at par with the industry (Hoskisson et al 2009, p. 178). Given that there are various industries and business entities all partaking in different business operations, each entity must come up with a strategy that will ensure it thrives in its line of business else it risks being knocked off the competition (Moreton et al 2012, p. 176). In order to achieve and maintain their niche or improve even further, the businesses must consider a variety of aspects including the internal and external factors, in order to ensure their continued success and dominance. Despite this, coming up with the right business strategy is not always an easy task. Various consid erations have to be made to identify the best path forward since a wrong move could send a firm on a downward trend (Sekhar 2009, p. 87). In light of the above, the analysis of Samsung Electronics Company Ltd. in relation to existing and probable business strategy modules would suffice a business strategy report. Samsung Electronics is a transnational electronics corporation based in South Korea. It is the main auxiliary of Samsung Group of companies and has been on a steady rise over the recent couple of years. It operates on the global market platform, with branches in most major cities of the world. Samsung has considerably grown over the last couple of years, thereby increasing its global employee base to upwards of 200000 (Sekhar 2009, p. 187). The company is involved in the manufacture of end user electronic products. On the broad platform, it operates mainly in two expansive business units. These are the end product faction and the module division. The product division is inv olved in the fabrication of user products especially home appliances such as video and audio equipment, kitchen electronics, computers, air conditioners, cameras, printers and communication equipment such as mobile phones and tablet computers. On the other hand, the module division is involved in the business of manufacturing product components such as semiconductors, display products such as LCD’s, TFT’s, AMOLED’s and storage devices such as SD and microSD cards (Russ 2010, p. 231). Moreover, they partake in electronic consumables such as toners and cartridges for printers apart from the aforementioned products. Given the nature of their businesses, the industry is often tumultuous especially due to the constant innovative technologies that grace the electronics and telecommunications industry (Cant et al 2008, p. 121). Samsung Electronics prides itself with the vision to inspire the world and create the future. Their company profile identifies three strengths in relation to their vision. These are new technology, innovative products and creative solutions, all in a bid to realize the stated vision. Moreover, their main focus is on the industry, the employees and their business partners, and they identify these as the keys to their growth and overall success (Moreton et al 2012, p. 88). Their focus on the industry is aimed at assessing the industry trends to enable them map the best strategy to be the market leader. Meanwhile, the partnership vision is aimed at considering their business associates and generating a correlation targeting success for both partners and the company itself (Cant et al 2008, p. 322). On the other hand, the employee vision has the objective to empower the employees and create a sense in them that lets them diligently partake in their duties